The GE Healthcare Building in downtown Issaquah was recently bought by the Bellevue-based Lytle Enterprises for $15.7 million.
The 53,555-square-foot, two-story office and tech production building located at 1040 12th Ave. NW was sold by Redstone Group, a British Columbia-based private commercial real estate company. The building sits on more than 4 acres and is occupied by GE Healthcare which has three years left on its lease, and another 10-year extension it could opt to take.
Lytle Enterprises is a senior housing investment and development company. However, senior vice president Jill Ashton said there are no plans as of yet to develop the property.
Purchasing the property is an investment for the company, Ashton said.
“We’re local, we’re based in Bellevue, we really like the Issaquah market, and we feel it was a good place for us to invest some money,” she said.
Lytle Enterprises was represented in the transaction by the real estate company Kidder Mathews.